ECONOMY

Fewer glasses being raised

Sales of alcoholic beverages have slumped as a result of the financial crisis and the increase in the special consumption tax.

A Hellastat study has shown that while the decline in turnover amounted to 20 percent year-on-year in 2010, the drop is estimated to have been even bigger in 2011.

Data from the Hellenic Association of Drinks Distributors (ENEAP) indicate that consumption of alcoholic drinks dropped from 107,600 hectoliters in the first half of 2009 to about 56,000 hectoliters in the same period in 2012, meaning it shrank by almost half within just three years.

From 2009 to date the special consumption tax on drinks containing alcohol has soared by 125 percent, amounting now to 25.50 euros per liter, while the industry is also due to an increase in smuggling from neighboring countries.